Dell Paying $700 Million In Cash To Acquire Force10 Networks
Dell Inc. (NASDAQ:DELL) is acquiring Force10 Networks Inc. for $700 million in cash. Force10 is a high-speed Ethernet networking equipment company that was planning to go the IPO route.
Force10 is best known for developing 10 gigabit Ethernet networking switching and routing products. Force10 was founded in 1999 and merged with Turin Networks Inc.
Between Turin and Force10, they raised over $630 million in venture capital. The company’s most recent round of funding was $30 million, which gave the company a valuation that is greater than $200 million.
Some of the previous investors in the company include Advanced Equities, Crosslink Capital, Meritech Capital Partners, DCM, Morgenthaler Ventures, New Enteprise Associates, Pacesetter Capital Group, RWI Ventures, Tudo Ventures, U.S. Venture Partners, and Worldview Technology Partners.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry